From January to April 2014 Azerbaijan extracted 14.1 million tons of oil and condensate, reported the Azerbaijan State Statistical Committee.
According to the Committee, production of liquid hydrocarbons in Azerbaijan decreased by 200,000 tons (about 1.5 million barrels) or by 1.4%.
This year the government’s forecast of oil and condensate production is 40,974,300 tons. During 2013 the country has produced 43,083,300 tons. Reduction by almost 2 million tons of oil has been forecasted, because of the repair of two production platforms, which are involved in production on the Azeri-Chirag-Guneshli (ACG) contract area for 3-4 weeks. This will happen in the second half of this year.—0--
Economics
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A high-level event titled “Trio of COP Presidencies Dialogue: Roadmap for Mission 1.5 towards a Future of Shared Prosperity” was held within the framework of the 29th session of the United Nations Climate Change Conference (COP29).
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The State Oil Company of the Azerbaijan Republic (SOCAR) and Slovakia's largest gas operator, Slovenský Plynárenský Priemysel (SPP), have signed a short-term pilot contract for the supply of natural gas, according to sources in Slovakia.
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In recent months, an increase in the price of butter has been observed in Azerbaijan. Notably, this is the third price hike within a year. According to consumers, certain brands of butter that cost 19 manats per kilogram at the end of last year are now being sold for 24 manats, marking a nearly 30% increase.
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Azerbaijan has signed an "Agreement on Project Implementation" with China’s BYD Company Limited (BYD) to establish a domestic production line for electric buses, officials announced.
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